Financial and Management Accounting - a comparison
13 September 2012
At the foundation stage students need to know the relationship between financial and management accounting. This article defines the objectives of these areas and illustrates their relationship.
Within the objectives of unit 4 (supply information for management control) foundation stage students are required to know the relationship between financial and management accounting.
CIMA terminology defines Financial Accounting as: "The classification and recording of monetary transactions of an entity in accordance with established concepts, principles,...